State-run Land Bank of the Philippines said it was named the top government-owned and controlled corporation (GOCC) for the second consecutive year, earning the highest rating for corporate governance in 2023 from the Governance Commission of GOCCs (GCG).
The lender garnered an unprecedented rating of 104 percent on the GCG’s Corporate Governance Scorecard (CGS), exceeding the rating ceiling of 100 percent.
The CGS is an evaluation tool that assesses the corporate governance practices of GOCCs, using a methodology aligned with international standards.
“Being recognized anew as the top GOCC for corporate governance reflects LANDBANK’s steadfast commitment to transparency, accountability, and excellence in public service. This recognition drives us further to continuously foster a culture of good governance, ensuring that we remain a reliable and trusted partner in promoting inclusive and sustainable growth across the nation,” said LandBank president and chief executive Lynette Ortiz.
Executive Secretary Lucas Bersamin, alongside GCG chairperson Marius Corpus and commissioners Brian Keith Hosaka and Geraldine Marie Berberabe-Martinez, conferred the award to LandBank during the 2024 GCG awards ceremony at the PICC Complex in Pasay City.
LandBank director Virginia Orogo received the award on behalf of the bank, along with executive vice president Liduvino Geron, senior vice president Roderick Sacro and vice presidents Myra-Lyn Peñalosa, May Arizabal and Nikkolas Tolentino.
LandBank said it also ranked among the top-ranking GOCCs in the 2023 GCG Performance Evaluation System (PES), which measures the achievements of GOCCs based on performance criteria, targets, and weighted indicators outlined in the Performance Scorecard.
The bank also received a Sustainability Award for its outstanding commitment to sustainability values and practices.
